10AM Hour: Stocks Pull Back from Records, SpaceX Raising Money to Buy Nvidia Chips, New McKinsey Report on Job Impact from AI 10/7/26
Summary
Squawk on the Street covers rising 10-year Treasury yields and their impact on mortgage rates, with market expert Rebecca Patterson discussing AI-driven debt issuance and fiscal risks. The show analyzes SpaceX’s $40 billion bond deal to purchase Nvidia chips, featuring insights from William Blair analyst Louis De Palma on the company’s massive AI capital expenditure. Additionally, McKinsey’s Eric Kutcher explains a new report predicting that 11 million U.S. workers will need to change occupations by 2035 due to AI automation. The episode also highlights Porsche’s strategic pivot toward excl…
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